FG Secures $747 Million Loan for Lagos-Calabar Coastal Highway

FG Secures $747 Million Loan for Lagos-Calabar Coastal Highway

Lagos-Calabar Coastal Highway The Federal Government has secured a $747 million loan facility to fund Phase 1, Section 1 of the Lagos-Calabar Coastal Highway project, in what is being described as a milestone for infrastructure financing in Nigeria. The Ministry of Finance announced on Tuesday that the facility was arranged by Deutsche Bank, covering the stretch of the highway from Victoria Island to Eleko Village in Lagos State. The project […]

July 10, 2025 6

BUSINESS

Lagos-Calabar highway: Telcos fear shutdown as construction threatens cables

•Undersea fibre cables linking Europe to Nigeria pass through construction corridor – ALTON, ATCON Barely 48 hours after Multichoice alerted subscribers to a three-day technical downtime, telecommunication companies have expressed concern over possible connectivity disruptions as construction advances on the 700km Lagos-Calabar Coastal Highway. While the DStv and GOtv owner acknowledged the anticipated impact of the ongoing Lagos-Calabar construction project on their uplink facilities, telcos on Sunday expressed broader concerns […]

May 6, 2024 20

NEWS

Demolition of buildings for Lagos-Calabar coastal road begins Saturday

The Federal Government has announced that the demolition of buildings situated within the right of way of the Lagos-Calabar Coastal Road will commence this coming Saturday. According to Channels Television’ on Thursday, the Federal Controller of Works in Lagos State, Korede Keisha, disclosed this during a press briefing held in Lagos on Thursday. Keisha urged all residents whose houses have been earmarked for demolition to visit the ministry’s secretariat in […]

April 26, 2024 64

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